For Sale By Owner – A $65,000 Mistake!?

Recently overheard at the next table in a restaurant:

“We’re thinking about selling the house ourselves. We worked with a Realtor to buy the house, but I think we can save a few bucks putting it on the market on our own. Every little bit helps, right?” 

To be fair, I overheard just a snippet of this conversation, so maybe there is more to the story. As a licensed Realtor, of course I believe all buyers and sellers should seek professional representation for their Real Estate transactions. The buying and selling of property is a binding legal transaction. I wouldn’t recommend that you show up to court without a lawyer, nor would I recommend selling a home without a Realtor. In regard to the purchase or sale of property, there is more at risk than dollars, and it pays to have someone on your side who can make sense of the legalities of the transaction. 

According to 2011 NAR {the National Association of Realtors} statistics, FSBO’s accounted for 10% of all home sales. While the average home sold {with Realtor assistance} for $215,000 in 2011, the average home sold by the homeowner sold for just $150,000. Ouch! These statistics put a different spin on the situation, that’s for sure. 

If a potential $65k loss still doesn’t sell you on the need for Real Estate representation, call me or drop a line. I’d love to chat about your personal Real Estate purchase or sale, whether or not you choose to work with me. I might just have a few useful tidbits to share in terms of your Real Estate goals. 

Jack Meyers


Twitter: @jackestate


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